Organizations of all types (e.g., corporations, non-profit groups, academic institutions, government bodies, households, individuals, trusts, estates, etc.) are required to complete financial forms. In some cases, it may only be necessary to complete these financial forms once during the life of the organization (e.g., incorporation forms, merger forms, employment application, etc.). In other cases, it may be necessary to complete these financial forms on a frequent basis (e.g., annual tax return, compliance forms, expense reports, etc.).
Financial forms are often used to report financial events to a financial body (e.g., a tax authority). A financial event is any activity that involves a financial transaction or that has a financial impact. Financial events may include, for example, earning wages through full and/or part time employment; trading stocks, bonds, mutual funds, commodities, currencies, and/or bullion; receiving royalties from intellectual property; mortgage payments; medical bills; student loan payments; getting married; having dependents; saving for retirement; paying insurance premiums; business expenses; making charitable donations; automobile payments; etc.
In some cases, a financial form may be used to report only a single financial event. In other cases, a financial form may be used to report multiple financial events. Financial forms may be any number of pages long and may be divided into multiple sections, with each section pertaining to one or more financial events. In many cases, financial forms may also be used to determine additional payments and/or credits that result from the reported financial events (e.g., tax bill, tax refund, etc.).